Answer / sushil kumar

tds is direct tax. the full form of tds is tax deduct at
source. when any payee (company\firm)pay amount exceding as
per criteria of deduction tax to payer is liable to deduct
tax. example of nature of payment
1- advertisment contractor
2- subcontractor
2- rent etc

Answer / pratibha

TDS Means TAx Deducted at Source. It is Deducted By the
Payee who pay Cheque Amount Exceeding Particular Criteria
Declared By the Income Tax Department. Payee Should Submit
the TDS Amount as TDS return Within the Period to the
Goverment withthe given Formate (i.e PAN of Person whoes
tax deducted , Name etc)and Prepared Form 16A with the name
of Party so that he will( party whoes TDS Deducted) take
this benifit in Income Tax Return Filling.
Eg. Payment to Contractor Exceeding Payment 20000/- TDS 2%
i.e 20000-400 TDS = Cheque Amount 19600/-

Answer / mudunuri

As per the provisions of Income tax Act Employer is at obligation to deduct taxes as per the rates prescribed from time to time. For TDS Payment is the source to deduct Tax and to deposit under the PAN of the payee

Answer / shashikala jm

Tax deducted at source can be explained with the following
example:

Mr A is a owner
Mr B is a tenant
Rent per month is 20000/=
B is paying A Rs.18000
after deducting 2000 at source & pays it to the dept on
behalf of Mr A

Hence i conclude that TDS is certain percentage of amt
deucted on behalf of each other in case of debtors &
creditors.

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